What The Fraud?

“What happens when the fraudster isn’t a stranger… but your own customer?”

Businesses spend millions verifying identities, onboarding users, and preventing external attacks. But one of the fastest-growing threats now comes from inside the perimeter: legitimate customers exploiting refunds, disputes, chargebacks, subscriptions, and reimbursement systems for personal gain.

Our special guest this week is Richard Bromley, Head of Fraud and Disputes Risk at Monzo Bank. Drawing on years of experience at the sharp end of fraud prevention, Richard explains why first party fraud has become one of the most misunderstood and underestimated risks facing banks, fintechs, merchants, and payment providers today.

From false scam claims and refund abuse to subscription traps, social media “hacks,” and organized criminal groups exploiting reimbursement schemes, this conversation explores how customer fraud is evolving from opportunistic behaviour into a scalable criminal model.

We also examine why the term “friendly fraud” is dangerously misleading, how businesses can distinguish genuine victims from dishonest claimants, and why behavioural signals, machine learning, investigator expertise, and cross-industry collaboration are now essential to staying ahead.

Sumsub's Website: sumsub.com
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Sumsub on X: x.com/Sumsubcom
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Thomas Taraniuk on LinkedIn: linkedin.com/in/tomtaraniuk
Richard Bromley on LinkedIn: linkedin.com/in/richard-bromley-ica-dip-fcp-4b559a4a/
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“Fraud is no longer about convincing a human… it’s about feeding a system.”

Fraud is evolving fast. No longer limited to fake documents or stolen identities, today’s attackers are targeting the very infrastructure designed to stop them, exploiting workflows, reverse engineering systems, and operating at machine speed.

In this episode, we explore how fraud has shifted from human deception to system manipulation, and why traditional defences are struggling to keep up.

Our special guest this week is Maikel Ninaber, Head of Risk and Resilience for EMEA at Mastercard. Drawing on his experience breaking into systems as an ethical hacker and now defending them at scale, he shares how modern fraud attacks are designed, tested, and deployed.

From camera injection attacks and emulator farms to AI-driven fraud and reverse-engineered onboarding flows, this conversation reveals how criminal operations are becoming more structured, automated, and scalable. We also explore why layered defences, real-time detection, and cross-industry collaboration are critical, and what it takes for organizations to stay resilient in a world where fraud moves at machine speed.

Sumsub's Website: sumsub.com
Sumsub's LinkedIn: linkedin.com/sumsub
Sumsub's Instagram: instagram.com/sumsubcom
Sumsub on X: x.com/Sumsubcom
Sumsub's YouTube Channel: youtube.com/@sumsubcom
Thomas Taraniuk on LinkedIn: linkedin.com/in/tomtaraniuk
Maikel Ninaber on LinkedIn: linkedin.com/in/maikelninaber/
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"What happens when an attacker gains control of your AI agent and the outside world believes everything it does... is you?"

AI agents are already booking travel, managing calendars, and handling day-to-day tasks for millions of people. But as they gain access to our accounts, finances, and personal data, a new question emerges: how do you tell a legitimate agent from a hijacked one?

Our guest this week is Mick Amelishko, AI advocate and Senior Engineering Manager at Sumsub, who lives at the intersection of AI development and fraud risk every single day. Mick breaks down what AI agents actually are, why they're so powerful, and why that power makes them an increasingly attractive target for bad actors.

From compromised personal assistants and prompt injection attacks to the emerging concept of Know Your Agent (KYA), this conversation explores what happens when automation becomes indistinguishable from real user behaviour. We look at how fraudsters can weaponise agent access to drain accounts, impersonate users, and cause damage across multiple platforms, and what businesses and individuals can do about it.

Sumsub's Website: sumsub.com
Sumsub's LinkedIn: linkedin.com/sumsub
Sumsub's Instagram: instagram.com/sumsubcom
Sumsub on X: x.com/Sumsubcom
Sumsub's YouTube Channel: youtube.com/@sumsubcom
Thomas Taraniuk on LinkedIn: linkedin.com/in/tomtaraniuk
Mick Amelishko on LinkedIn: linkedin.com/in/amelishko
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“What happens when a fraudster doesn’t steal an identity… but builds one from scratch?”

Synthetic identities are one of the fastest-growing threats in financial crime. Built from fragments of real and fabricated data, these identities can pass onboarding checks, behave like legitimate users for months or even years, and then suddenly “bust out”, leaving businesses with significant losses.

Our special guest this week is Steve Lenderman. Drawing on decades of experience investigating fraud, Steve shares how synthetic identities are created, how they evolve over time, and why this threat has grown from a credit-card problem into a global issue affecting fintech, payroll, government programs, and beyond.

From bot-generated identities and AI-assisted fraud to sleeper accounts, bust-out schemes, and synthetic businesses, this conversation explores how organized crime groups and even nation-state actors are scaling these attacks. We also look at why collaboration between industries is critical, how behavioural and device intelligence can reveal hidden patterns, and what companies can do to detect synthetic identities before the damage is done.

Mentioned in this episode – how Device Intelligence detects synthetic identities early: https://sumsub.link/ykm

Sumsub’s Website: sumsub.com
Sumsub’s LinkedIn: linkedin.com/sumsub
Sumsub’s Instagram: instagram.com/sumsubcom
Sumsub on X: x.com/Sumsubcom
Sumsub’s YouTube Channel: youtube.com/@sumsubcom
Thomas Taraniuk on LinkedIn: linkedin.com/in/tomtaraniuk
Steve Lenderman on LinkedIn: https://www.linkedin.com/in/steve-lenderman
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Fraud in iGaming is shaping how operators grow, how regulators respond, and where investors place bets. Recorded live at ICE Barcelona in partnership with the C-Suite Podcast, this is Part 2 of our special What The Fraud? series on the widening global fraud landscape in iGaming.

Kris Galloway, iGaming Product Evangelist at Sumsub, took over hosting duties and he was joined by:
Daniel Xavier, COO, BetMGM Brazil
Andrew Wright, Managing Director UK & Ireland, LeoVegas Group
Adrianna Samuels, Vice President - Senior Client Partner | Gaming, Globant
Torben Friis, Manging Director - Global Head of Distribution, Match Liquidity

They cover the tension between player acquisition and fraud prevention, the ongoing challenge of unlicensed operators, Brazil’s evolving regulatory framework, why fraud risk is increasingly part of financial due diligence and investment decisions, and how major events like this year’s World Cup can open up new fraud angles for sportsbooks. From bonus abuse and multi-accounting to AI-driven threats, the episode maps how the risk environment is shifting for operators worldwide.

Sumsub's website: sumsub.com
Sumsub's LinkedIn: linkedin.com/sumsub
Sumsub's Instagram: instagram.com/sumsubcom
Sumsub on X: x.com/Sumsubcom
Sumsub's YouTube Channel: youtube.com/@sumsubcom

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